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The Difference between Buying an Old and a New House

With a never-ending demand for real estate investments, home lots nowadays have shrunk just as the land costs increase. Homes are sometimes so close in proximity that people can just hear their neighbors talk! That’s why some people would rather choose to buy an old house rather than a new one. But what are the advantages and disadvantages between getting an old house and a new one?

Advantages and Disadvantages of Getting an Old House

Most old houses located in cities like Franklin are made with meticulous attention to detail. Some were even made by genuine craftsman and have stood for decade and even centuries enduring many storms. It also has a larger yard since land was cheaper back then. Most houses built during the 1890s have a lot of character in them. Some styles that were prominent back then were Victorian, Tudors or Colonials and Greek Revivals. Some of it architectural designs include are arches, stained- glass windows, and hand-carved decorative appointments. Since some of these houses are passed down through generations, many neighbors grew up knowing each other. Getting a fairly good tree and landscaping wouldn’t be a worry since most old houses already have one in its yards and boulevards.

However, since these houses have been built for more than 20 years, it is expensive to replace its wiring and plumbing. You would also have to spend money on building bigger closets and other storage spaces. Building HVAC system is also needed since it had almost been nonexistent back in the 1900s. Maintaining a classic and vintage home would also cost more because of its age.

 Advantages and Disadvantages of Getting a New House

Since your house is just newly constructed, you would have to spend less maintenance if compared to old houses. It also has modern conveniences like built-in dishwashers, refrigerators, microwaves, and sometimes even fitness and media rooms built in already. Most newly- built houses, if not all, are energy efficient, with its walls and floor insulated. New appliances that use less energy can also be easily installed. Dual pane windows also retain more heat during the winter and keeps the house cooler during the summer. Some even have building codes as an added protection. It also is less expensive and has a greater square footage, on average.

However, tract homes are built the same, which means that your house wouldn’t be any different than the rest. Vegetation would also take years since most real estate nowadays has barren, default landscapes. So having trees in your backyard may take 10 or more years to grow. There is also such a thing as house settling, which causes cracks in foundations, door frames and most especially the walls.

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USDA Home Mortgages

Primary Residential Mortgage, Inc.
10121 N Rodney Parham, Suites C & D
Little Rock, AR 72227
855-474-7169
501-225-5626
NMLS # 3094
Branch NMLS # 252910
Licensed by Arkansas Securities Department 11558
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Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice.

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